Profits Distribution. The net profits of the joint investment pool shall be distributed amongst the shareholders and depositors according to their respective weightages in the invested funds. The Bank, as Mudarib, shall be entitled to 90% of the depositors’ share of Mudaraba profit (or as amended from time-to-time subject to 90 days prior notice to the depositors).
Profits Distribution. Profits shall be distributed to the Parties according to the following principle: (1) the Board of Directors shall, within four months of the end of a financial year, and after deductions are made for common reserve, worker's compensation and pension, decide on the amount of retained earnings and the pro- rata distribution of dividend. The dividend to be distributed to the Parties shall not exceed 75% of the profit. (2) any gross profit generated annually in any of the Operating Areas shall first be used for payment of taxes, fees and charges in accordance with the provisions of applicable tax laws and regulations of PRC, and the remainder shall be the profit to be allocated between Party A and Party B in accordance with their Share Interest. (3) Party B shall enjoy priority in receiving foreign exchange payment in any profit of the JVC. Foreign exchange will be U.S. Dollars converted from Renminbi, with the conversion rate being the average sell and buy rate at the People's Bank of China of the date when the Board of Directors decides to distribute profits. If the JVC does not have sufficient foreign exchange to advance to Party B, the JVC shall, as instructed by Party B, convert the Renminbi profit payable to Party B at the bank at the average exchange rate for foreign exchanges, and pay such converted foreign exchange to Party B. If the JVC is unable to make such converted foreign exchange to Party B. If the JVC is unable to make such conversion, then is shall, as instructed by Party B, deposit an equivalent amount in Renminbi in an independent savings account opened in the name of the JVC. The JVC or Party A shall not use the principal or interest thereon in this account. If Party B's instructions are requirements comply with the laws of PRC, the JVC should immediately perform the instructions of Party B to deposit Party B's profits into the bank account. 47.
Profits Distribution. (a) After the payment of income tax by the Company, the Board will determine the annual allocations from after-tax net profits to the reserve fund and expansion fund of the Company and the bonus and welfare fund for the workers and staff members. The sum of the annual allocations to the three funds shall be determined by the Board.
Profits Distribution. Profits shall be distributed to the Parties according to the following principle: (1) the Board of Directors shall, within four months of the end of a financial year, and after deductions are made for common reserve, workers' compensation and pension, decide on the amount of retained earnings and the pro rata distribution of dividend. (2) any gross revenue generated annually in each Phase of operation shall first be used for payment of taxes, fees and charges in accordance with the provisions of applicable tax laws and regulations of PRC, and then applied for the recovery of costs in that Phase. The remainder shall be the profit to be allocated between Party A and Party B in accordance with their Share Interest. (3) Party B shall enjoy priority in receiving foreign exchange payment in any profit of the JVC. Foreign exchange will be U.S. Dollars converted from Renminbi, with the conversion rate being the average sell and buy rate at the People's Bank of China of the date when the Board of Directors decides to distribute profits. If the JVC does not have sufficient foreign exchange to advance to Party B, the JVC shall, as instructed by Party B, convert the Renminbi profit payable to Party B at the bank at the average exchange rate for foreign exchanges, and pay such converted foreign exchange to Party B. If the JVC is unable to make such conversion, then it shall, as instructed by Party B, deposit an equivalent amount in Renminbi in an independent savings account opened in the name of the JVC for the benefit of Party B. The JVC or Party A shall not use the principal or interest thereon in this account. If Party B's instructions and requirements comply with the laws of PRC, the JVC should immediately perform the instructions of Party B to deposit Party B's profits into the bank account.
Profits Distribution. The Company shall adopt the following principles with respect to the distribution of profits:
Profits Distribution. 12.1 Save as otherwise agreed by all Shareholders and subject to clauses 3.5 and 10.7 the profits at the Company are each of its Group Companies in each of their respective financial years, after tax or provision therefore and after the making of such provision as may be required to meet working capital requirements and outstanding loan obligations and after such transfers to reserve and provisions as are reasonably in the reasonable opinion of the Shareholders and the Board to be made for contingent future liabilibites, shall to the extent allowed by applicable laws be distributed in full by way of dividends 20 34 37 38 39 40 41 42
Profits Distribution. (a) After providing for income tax to be paid by the Company, the Board will determine the respective amounts to be transferred to the Company's reserve fund, bonus and welfare fund and the enterprise expansion fund (the "Three Funds"), and such amounts will be deducted from the Company's after-tax net profits.
Profits Distribution. (a) Prior to the distribution of net profits of the EJV to the Parties, the EJV shall allocate from the net after-tax profits of the EJV for the creation (and in subsequent years maintenance) of the reserve, expansion, and bonus and welfare funds. The allocation percentages of the above mentioned three funds shall be decided by the Board.
Profits Distribution. (a) The Company shall determine the amount of its after-tax distributable profit, in accordance with the Financial and Accounting System, on an [**] basis.
Profits Distribution. 1. The Parties hereto unanimously agree that Datong Investment shall pay RMB10 million to Party A as dividend distribution and shall make such payment to Party A before December 31, 2012. Notwithstanding the foregoing, Datong Investment did not distribute and will not distribute any dividends to Party A, and Datong Investment bears no obligation to distribute dividends to Party A in the past or in the future.
